A new bid to take over HRT and rebrand it Scorpion Racing is not likely to get the go-ahead to compete in this year's championship, according to Bernie Ecclestone.

It emerged on Tuesday that a group of American and Canadian investors were looking in to buying the defunct team with the hope of securing a place on the grid this year. According to Autosport the investors are hoping to complete due diligence of the buyout plans this week, with the intention to move the team to Silverstone and run two updated F112s this year.

However, Ecclestone fears it is probably too late for Scorpion Racing to be allowed on to the grid after HRT failed to pay its entry fee to the FIA for 2013 last year.

"I've spoken to them [Scorpion Racing] and told them to get in touch with the FIA and ask for an entry," he told the Press Association.

"They want to buy all the bits from HRT, then form a company and ask for an entry, but I personally don't think it will happen. It's all a bit too late. Maybe they could do it for next year."